(Learning Objective 8: Report cash flows for plant assets) Assume AlfonsoCorporation completed the following transactions:a. Sold a store building for $670,000. The building had cost Alfonso $1,600,000, and at thetime of the sale, its accumulated depreciation totaled $930,000.b. Lost a store building in a fire. The building cost $300,000 and had accumulateddepreciation of $220,000. The insurance proceeds received by Alfonso totaled $200,000.c. Renovated a store at a cost of $140,000 (cash).d. Purchased store fixtures for $110,000 (cash). The fixtures are expected to remain inservice for ten years and then be sold for $110,000. Alfonso uses the straight-linedepreciation method.For each transaction, show what Alfonso would report for investing activities on its statement ofcash flows. Show negative amounts in parentheses.
(Learning Objective 8: Report cash flows for plant assets) Assume Alfonso
Corporation completed the following transactions:
a. Sold a store building for $670,000. The building had cost Alfonso $1,600,000, and at the
time of the sale, its
b. Lost a store building in a fire. The building cost $300,000 and had accumulated
depreciation of $220,000. The insurance proceeds received by Alfonso totaled $200,000.
c. Renovated a store at a cost of $140,000 (cash).
d. Purchased store fixtures for $110,000 (cash). The fixtures are expected to remain in
service for ten years and then be sold for $110,000. Alfonso uses the
depreciation method.
For each transaction, show what Alfonso would report for investing activities on its statement of
cash flows. Show negative amounts in parentheses.
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